Tips for Solid Investments in Real Estates in the UK 2018

Investments in real estates in UK have continued to command considerable attention both in the UK and across the world, for the simple reason that this is a resilient market with property in some of the world’s fastest growing and popular cities. This attractiveness has pushed up the competition for prime properties, which promise good returns in the medium to long-term. If you are looking to start investing in real estate, or expand your portfolio, here are some tips that will be very useful.

Prioritize areas under regeneration

Freshly regenerated areas offer affordable property with the possibility of gaining value fast. Council neighborhood upgrades, new and expanded transport hubs are some of the factors that pull people into previously overlooked neighborhoods. Look at different local councils’ plans for regeneration and map out potential hotspots.

Give preference to flats

Flats are more flexible as buy-to-let investments. The fact is that with good planning, you can convert a flat into a flatshare with higher rental income than a townhouse. Real estate experts opine that the two-bedroom two-bathroom flat is the hottest buy-to-let property in the market.

Property to add value

Look for low priced property where you can add value with additional features or conversions. This will earn you higher rental income once the value is added, for example, a spacious flat above a shop can be added value with a loft conversion.

Go for property auctions

Keeping clear off estate agent listed properties is a smart choice. This is because there is higher competition for this property from buyers who may be buying the property as a home, and are ready to commit more money out of emotions. The agent will also push the price up for his commission. Auction properties offer better prices.

Consider your target market

Your tenants will largely be drawn to your property in consideration to the lifestyle options and amenities in the area. If you are targeting young professionals, you need to be in an area with an easy commute, several bars, shops, and gyms. Compare your target market and the area.

Beware of the costs and the yield

If you are buying the property on financing, consider the costs of servicing the loan. There are other general expenses for the property including levies and taxes. There will also be management and collection fees. A quick assessment would be to see whether the property will be yielding over 10%. Ensure that the gross is enough to cover your expenses lest you are stressed to pour in more cash in the investment.

Manchester is one of the more attractive cities in the UK to live in, and this can be seen in a large number of immigrants in the city. The cultural vibrancy of the city and social life is a pull to both native Britons and immigrants. As such, getting good and affordable rooms to rent is getting more difficult each year. If you are new to the city, the search for accommodation can be a bit intimidating. But it is possible to get decent rooms to rent Manchester with a proven methodology.

What type of rooms do you want?

Do you need a single room, flat share or whole apartment? This should be guided by your budget and other concerns such as family, or expected guests. There is a huge variety of accommodation in Manchester if you can match the rent.

The next question would be, where do you want to rent? This depends on your place of work or study. The trick is getting the right balance between an easy commute, and the rent costs. You might go for really affordable rooms, but then have these advantages invalidated by a hectic commute or crime in the area.

There is a handy mapping tool provided by the Office of National Statistics that can help you find out more about different neighbourhoods, including ease of commute and social amenities.

Use web listings

Web listings are to be approached with caution, simply because there are too many cons cashing in on increased demand for accommodation. There are trusted sites like Spare room, and Easy roommate. Sites that are more of general classifieds have many dubious listings.

But the truth is that you will sometimes find real gems in the listings. If you have the time and energy to spare, note about 7 listings, and make a point of visiting each of these places before making your choice. Watch out for signs of cons like being asked for an upfront deposit before viewing the rooms.

Ask the right questions

As much as you are in a hurry to get the rooms to rent Manchester do not overlook some important information. Who is in charge of the property? How much is the tenancy deposit, and how long does the refund take after moving out? In case you are taking up shared accommodations, how are the bills to be shared out?

Lastly, you should scrutinize the tenancy agreement, to see how much liability it places on you. Sign it only if you are comfortable with the terms and conditions.

The reason why professional companies charge more for their services is the high costs of licensing and regulation. As a result, dealing with individual service providers can be risky; you are inclined to think of the loss you would incur if something gets damaged or the guilt on your conscience if one of them gets hurt in the line of duty. Well, safety is generally expensive and luckily it is not a cost you have to foot all the time. If you are skeptical about hiring an individual if they are the only hires available for Same Day Tenancy Cleaning, consider the following factors;

Customer service – start accessing the quality of their customer interaction from the moment you make the first contact with them. Did you call to inquire about their packages and were put on hold without notice or for an excessively long period of time? Did they promise to call you back but never did? The best company or provider should be keen on saving time, reducing anxiety and satisfying the curiosity of their potential clients.

Service reviews – with the internet, customers have a ready platform for sharing feedback. Do not be surprised if the proportion of negative feedback surpasses the positive by great margins; human beings are known to spread bad news faster than they do good news. It should, however, be a point of concern if the negative highlights an issue which never seems to be corrected.

Task packages – once you have settled on a certain individual for Same Day Tenancy Cleaning, clearly define the task they are supposed to do for you. You will from this exercise ascertain whether it is within their job packages and the charges for omission or inclusion. Sometimes defining a task requires that the provider visits the premises before they are able to make a quotation. If you are adamant about letting strangers into your home who you might not hire, request to speak to former clients or provide as much detail of the job as possible.

Cheaper service is without a doubt tempting because of the prospect of saving money but it is not always the best option. It is alright to bargain but too low a cost would mean less dedicated, less manpower deployed, use of low-cost cleaning agents and scheduling at inconvenient times. Purpose to discuss every aspect of the cleaning job beforehand for a chance to give specific instruction on how the process should be carried out.

One of the conditions of renting someone’s premises to live in is that at the end of the tenancy, you clean it out. While this condition is clearly stipulated in the occupancy agreement, it is the root cause of most tenant deposit disputes. The Deposit Protection Scheme in London has records to show that over 55% of such disputes are due to improper cleaning at the end of a tenancy. If you are keen on getting back your deposit money, you must pay attention to this aspect of your agreement and there are ways of going about it;

Do it yourself

This is the cheaper alternative; at least that is what tenants believe. For those who prefer this route, the trick is to start early, even before you have the plan to move out. Regularly cleaning out the key areas of the house will save you time and need for special attention when your deposit hangs on the line. If you never thought of doing this early than when the need arises, there is no need to panic; divide your house into sections and slot a day or two to go over cleaning in that space. Obviously, this will only be possible if you have the time or a supportive network of family and friends. When doing it yourself, list every item you found in the house including the fittings and fixtures. While the checklist might appear long, in the beginning, it will save you a pretty penny where your deposit is concerned.

Professional cleaning services

This is the Best End of Tenancy Cleaning London alternative and widely used by property owners on a contract basis. If your deposit is way above what you would use to hire a professional cleaning service, you will not only save time but also have years of the end of tenancy cleaning at your disposal. Some professional cleaners offer packages based on owner involvement, number of cleaners used and size of the property. Conduct a research on the best package before hiring and focus on areas that directly touch on the terms of the tenancy agreement.

There is no exception to leaving a rental property uncleaned unless it is part of the agreement between the owner and yourself. To best ensure that you hold up your side of the bargain, take and keep photos of the conditions you found and left. Sometimes your conscious is all you need to decide if your clean is good enough for the owner.

Real estate deals sometimes do not move as fast as one wants for different reasons. But savvy real estate agents have mastered a few tricks to sell fast even in slow markets. How does one go about selling a house that is not receiving as many views as expected?

Spruce up the curb appeal

First impressions matter. What do potential buyers see from afar? Improving curb appeal does not have to cost a lot. Accumulated dust can be power washed. Apply a new coat of paint on the door and window ledges, and whitewash the yard fence. Mow the lawn and engage a professional landscaper to groom the lawn. Weed the driveway.

The curb appeal draws potential buyers in, so work on the inside too to make a complete impression. Hire a professional interior decorator to discuss staging the house. Buyers will be willing to purchase a property that does not require much work to put into the desired shape.

Do the necessary repairs and a few upgrades

The necessary repairs should not be ignored. This is because the typical buyer will only want to make a purchase offer after a report from a house inspector. An untreated termite infestation, for example, will be a turn off for any buyer. Other warning signs include a leaking roof or an outdated electrical wiring.

A few upgrades should be done only where necessary. This could be rusted faucets, faded doorknobs, and outdated bulb designs. Major remodeling is not advisable because buyers are not often willing to match the price of the remodel. A kitchen remodel that costs $20,000 does not necessarily translate into a price bump by $20,000.

Competitive pricing

A competitive price will catch the attention of your target market faster. Pricing too low misses out on good money while pricing too high will turn off many potential buyers. Doing a good comparative analysis is an advisable so that the property can match other like properties on the market.

Hire a real estate agent/broker

A real estate broker knows the market better than the ordinary home seller. While selling a home without a real estate agent can save money in the form of the agent’s commission, the fact is that an agent will usually sell faster because he has the market connections.

Hire a good photographer

Just as curb appeal pulls in passers-by, attractive advert images make a good impression on people browsing homes for sale. Hire a good photographer to take a few high definition photos and images of the property, which are sure to catch the eye.

Technology has handed much leverage to small businesses in almost all industries, real estate included. Small and new real estate businesses can use intuitive technology to compete with bigger budget businesses. What are the top apps for real estate agents and brokers?

Zillow

This is widely used app in the North American real estate market. Zillow is a comprehensive property search property with very insightful features like the real estate outlook of a particular area, and property estimates.

Real Scout

With famous users such as Berkshire Hathaway, this app is very promising for lead generation. You can set up to 400 criteria to narrow down the property needed very precisely. This app scours new MLS listings and sends these leads to a realtors email inbox.

Google Maps

Over 60% of potential customers will first do a search on Google. The giant search engine allows placement of Google map location on a property using embedded code. This way, potential customers can quickly find the property using a smartphone.

Matterport

Not all potential customers are able to attend an Open House. This app allows a realtor to make a 3D tour of a video. This is more so for customers buying high end properties from a distant location. This app works with a Matterport camera, which can be hired from a professional photographer.

Mortgage calculator

Embedding a mortgage calculator on a realtor website helps quicken a potential buyer’s decision making. A good calculator should have parameters broad enough to give accurate monthly or bi-monthly mortgage payments, and the future payoff date.

Docusign

There is a lot of paperwork that requires signatures in a real estate transaction. Docusign is an electronic signature app. It is also a transaction management platform. It helps track all documents necessary in a real estate transaction so that a realtor finds many advanced processed quite hands-off.

Cloud CMA

CMA stands for Comparative Market Analysis. This is showing a client how a property’s value compares to other properties in the neighborhood and nearby regions. This information will be demanded by almost all potential buyers. Cloud CMA allows a realtor to do a CMA and send it direct to a potential client, complete with a headshot and logo for better brand awareness.

Area Pulse

An Area’s market data goes hand-in-hand with the comparative market analysis. This app generates and sends this data in a highly detailed format to potential customers.

Home value leads

This is a seller lead generation app that can be used by an agent as a customized value estimator with the output good for posting on Facebook Ads.